Redlands Property Investments Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02438821 (England and Wales)

REDLANDS PROPERTY INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTOR:

A J Williams

REGISTERED OFFICE:

Giants Wharf

Briton Ferry

Neath

SA11 2LP

REGISTERED NUMBER:

02438821 (England and Wales)

ACCOUNTANTS:

Bevan & Buckland

Langdon House

Langdon Road

SA1 Swansea Waterfront

Swansea

SA1 8QY

FIXED ASSETS

Investments

4

98,921

CURRENT ASSETS

Debtors

5

653,674

617,782

Cash at bank

1,260,313

1,308,591

1,913,987

1,926,373

CREDITORS

Amounts falling due within one year

6

14,566

24,573

NET CURRENT ASSETS

1,899,421

1,901,800

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,998,342

2,000,721

CAPITAL AND RESERVES

Called up share capital

100,000

Share premium

7,907

Retained earnings

1,890,435

1,892,814

1,998,342

2,000,721

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at
the end of each financial year and of its profit or loss for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 28 September 2018 and were signed by:

A J Williams - Director

1.	STATUTORY INFORMATION

Redlands Property Investments Limited is a private company, limited by shares , registered in England

and Wales. The company's registered number and registered office address can be found on the

Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover comprises revenue recognised by the company in respect of property rentals during the year,

exclusive of Value Added Tax and trade discounts, and is recognised as it accrues to the company.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of

financial assets and liabilities like trade and other debtors and creditors, loans from banks and other

third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and

other accounts receivable and payable, are initially measured at present value of the future cash flows

and subsequently at amortised cost using the effective interest method. Debt instruments that are

payable or receivable within one year, typically trade debtors and creditors, are measured, initially and

subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or

received. However, if the arrangements of a short-term instrument constitute a financing transaction,

like the payment of a trade debt deferred beyond normal business terms or financed at a rate of

interest that is not a market rate or in case of an out-right short-term loan not at market rate, the

financial asset or liability is measured, initially, at the present value of the future cash flow discounted

at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each

reporting period for objective evidence of impairment. If objective evidence of impairment is found, an

impairment loss is recognised in the Statement of Income and Retained Earnings.

For financial assets measured at amortised cost, the impairment loss is measured as the difference

between an asset's carrying amount and the present value of estimated cash flows discounted at the

asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate

for measuring any impairment loss is the current effective interest rate determined under the contract.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there

is an enforceable right to set off the recognised amounts and there is an intention to settle on a net

basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are

measured initially at fair value, net of transaction costs, and are measured subsequently at amortised

cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty

on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no

more than three months from the date of acquisition and that are readily convertible to known amounts

of cash with insignificant risk of change in value.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank

loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at

amortised cost using the effective interest method.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are

recognised when paid. Final equity dividends are recognised when approved by the shareholders at an

annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and

classified within interest payable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2016 - 1 ).

4.	FIXED ASSET INVESTMENTS

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Trade debtors

5,147

4,966

Amounts owed by group undertakings

-

14,606

Amounts owed by participating interests

-

93,819

Other debtors

648,527

504,391

653,674

617,782

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Trade creditors

2,092

20,377

Taxation and social security

306

-

Other creditors

12,168

4,196

14,566

24,573

7.	SECURED DEBTS

The company has given an unlimited guarantee to its bankers in respect of the bank borrowings of the

group companies, Briton Ferry (Shipping Services) Limited and Westland Coal Supplies Limited. The

guarantee is secured by a fixed and floating charge over the assets of the company. The amount

secured at the year end was £Nil (2016: £Nil).

8.	RELATED PARTY DISCLOSURES

During the current year, the company received charges of £1,000 from Briton Ferry Stevedoring

Limited in respect of the provision of office space.

As at 31 December 2017, £2,597 was due from (2016: £12,806) Briton Ferry (Shipping Services)

Limited.

As at 31 December 2017, £1,800 was due from (2016: £1,800) Westland Coal Supplies Limited.

The following reproduces the text of the report prepared for the director in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Director are not required to be filed with the Registrar

of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Redlands Property Investments Limited for the year ended 31 December 2017

which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from

the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Redlands Property Investments Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Redlands Property Investments Limited and state those matters that we have agreed to state to the director of Redlands Property Investments Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Redlands Property Investments Limited and its director for our work or for this report.

It is your duty to ensure that Redlands Property Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Redlands Property Investments Limited. You consider that Redlands Property Investments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Redlands Property Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.